Alcoa (AA) : Traders are bullish on Alcoa (AA) as it has outperformed the S&P 500 by a wide margin of 9.21% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 9.56%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 11.2% in the last 1 week, and is up 13.99% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 12.45% and the 50-Day Moving Average is 14%.
Alcoa (NYSE:AA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.72 and $10.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.92, notching a gain of 1.96% for the day. The total traded volume was 23,056,511 . The stock had closed at $10.71 on the previous day.
The company Insiders own 0.59% of Alcoa shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -3.5% . Institutional Investors own 69.26% of Alcoa shares. During last six month period, the net percent change held by insiders has seen a change of -0.72%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Alcoa Inc., Sorrell Martin, had purchased 1,990 shares in a transaction dated on July 13, 2016. The transaction was executed at $10.73 per share with total amount equaling $21,353.
Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. Its products, which include aluminum, titanium and nickel, are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications across the world. It also produces and manages primary aluminum, fabricated aluminum and alumina combined, through its active participation in the aspects of the industry, including technology, mining, refining, smelting, fabricating, and recycling. The Company has investments and operating activities in Australia, Brazil, China, Guinea, Iceland, Russia and Saudi Arabia, among others. It produces three dimensional (3D-printed) titanium, specialty metals and plastic parts for aerospace, medical and energy applications.